Union Finance Minister Nirmala Sitharaman presented the Union Budget 2023-24. It has been marked by areas of continuity over the past three years. However, we should not overlook the missed opportunities for more fundamental reforms while celebrating continuity.
Some areas like the continued boost in capital expenditure have received wide attention. Others, such as the reform of urban development and planning processes have received less.
As India grows, the quality of urbanisation will determine the quality of economic growth, and vice versa.
From this perspective, the continued focus on improving urban infrastructure and land-use efficiency is welcome.
Proposals related to urban planning and urbanization
Urban planning reforms and efficient land use: Cities will be encouraged to undertake urban planning reforms, adopting practices that use land more efficiently, creating resources for urban infrastructure, making urban land affordable, and improving inclusivity.
Infrastructure financing: Cities will be incentivized to ring-fence user charges on infrastructure and undertake property tax governance reforms so that they are creditworthy enough to issue municipal bonds.
Infrastructure Development fund for Tier 2 and 3 cities: A fund will be created by using shortfalls in priority sector lending to create infrastructure in Tier 2 and Tier 3 cities. Rs 10,000 crore is the expected amount to be made available for this fund. States will be expected to adopt user charges to access these resources.
Improving sewage and waste management: Proposals on improvements in infrastructure for handling sewage and managing waste.
The 2021-22 budget focused on providing urban infrastructure public transport, waste management and universal water supply.
In 2020-21, the budget, like this year, proposed improvements in sewage treatment and waste management to do away with manual cleaning.
It proposed tax concessions to encourage overseas borrowing for specified municipal bonds. In 2019, the government announced, and then formulated a model tenancy law to promote rental housing.
What more can be done?
Shift towards market-oriented reforms in urban planning and development:
States and city administrators have themselves come around to the benefits of market-oriented reforms, obviating some of the necessity for the Centre to champion them. This could be driven by the emergence of cities as engines of growth, the resultant commodification of urban land markets and, therefore, the increasing focus on land-use efficiency.
Greater openness to new ideas of urban planning could also be driven intellectually by changes in the outlooks of professionals in the field urban planners, architects and administrators who are increasingly able to work directly with state and municipal governments.
Lack of Political Significance for Urban Governance Reforms:
It could be that while cities are increasingly economically significant, they are not yet significant enough politically for politicians to look at urban governance issues more seriously.
While the 73rd and 74th amendments to the Constitution devolved many powers to local governments, state governments continue to hold most of the aces. This could change rapidly in the future as India transitions from rural to urban.
Conclusion
While urban governance systems are improving, India’s cities are still plagued by issues that need fundamental changes. Our building by-laws, restrictions on land use and zoning still create inefficiencies and make our cities unaffordable, dirty and polluted. The government’s steps to increase capacity building and to create expert committees to propose reforms in these areas is commendable. However, the pace of these proposals is inadequate and need to prioritised to meet urban India’s challenges.
Menstrual leave is a workplace policy that allows female employees to take time off from work during their menstrual cycle due to physical discomfort or pain. This policy has been a topic of debate, with some arguing that it is necessary to accommodate the needs of women during their period, while others argue that it creates discrimination and reinforces gender stereotypes.
Recently, Kerala government announced that the state government will grant menstrual leave for female students in all state universities under the Department of Higher Education.
The declaration occurred shortly after the Cochin University of Science and Technology (CUSAT) announced the decision, in response to a request by the students’ union, to grant menstruation leave to all of its female students.
Menstrual leave and the debate
Widespread conversation in recent years: The adoption of voluntary menstrual leave policies by some companies in recent years has led to a widespread conversation on periods in India.
Termed as Special leave for women: When the Bihar government implemented a period leave policy in 1992, it was termed special leave for women due to the stigma attached to the word menstruation.
Normalising conversation: The recent initiative by employers to provide period leave has been discussed and debated in the public sphere, thereby normalising the conversation around menstruation to an extent.
Who are menstruators?
Menstruators is an inclusive term refers to individuals who have female reproductive anatomy and experience menstrual periods.
It includes, women, trans men, and non-binary persons as well.
This biological process also decouples menstruation from womanhood.
Arguments in favour
Biological process comes with physical pain: Though menstruation is a biological process, it is accompanied by cramps, nausea, back and muscle pains, headaches, etc.
Polycystic ovary syndrome (PCOS): Additionally, these can take a debilitating form amongst menstruating people who suffer from polycystic ovary syndrome (PCOS) and endometriosis.
For instance: In India, 20 per cent of menstruators have PCOS and approximately 25 million suffer from endometriosis. The intensity of pain can vary for individuals for a variety of reasons.
Acknowledges the reality: For many menstruators, it is a biological process intertwined with medical symptoms. Mandatory period leave is an affirmative action policy that acknowledges this reality.
Kerala governments announcement is a welcome step: The Kerala government’s announcement to grant menstrual leave to all female students of state universities is a welcome move that takes the discourse a step further into educational institutions.
It should be replicated across universities and schools in India: This will also help reduce the drop-out rates of female students from government schools in rural India caused by the lack of clean toilets, running water, sanitary pads, etc.
Arguments against
Fear of bias in hiring: The major opposition to a menstrual leave policy is the fear of bias in hiring due to the financial costs to employers. Discriminatory hiring has been a cause of concern in many countries.
Probable decline in women labour force participation: It is often equated to the decline in the labour force participation of women following the introduction of mandatory paid maternity leave.
Medicalising normal biological process: Period leave is often seen as medicalising a normal biological process.
Did you know?
“Female sugarcane cutters surgically remove their uteri to secure work”
A widely accepted menstrual health framework can also ameliorate the conditions of female workers in the unorganised sector.
In Maharashtra’s Beed district, contractors in the sugarcane industry do not hire anyone who menstruates.
More than 10,000 female sugarcane cutters have had to surgically remove their uteri to secure work.
Most of them are in their twenties and thirties, and now experience various post-surgery health complications. Such exploitation is a human rights violation.
Way ahead
Need to bridge the gaps: The path to equality does not lie in inaction due to fear of further discrimination. What is needed is a holistic outlook aimed at bridging existing gaps.
Comprehensive and inclusive approach is must: The implementation of menstrual leave should be based on a comprehensive and inclusive approach that takes into account the needs and rights of all employees, regardless of gender.
Mandatory self-care leaves as an alternative: Employers should be made to introduce a mandatory self-care leave as an alternative to period leaves for those who cannot avail of the latter. Employees should be able to utilise their self-care leave as they deem fit. This will reduce burnout and increase productivity.
Self-care leave will also destigmatise menstruation: The names menstrual leave and self-care leave will also destigmatise menstruation and self-care respectively. Further, employers should be made to implement a stringent diversity, equity, and inclusion (DEI) framework.
Safeguards menstruators in unorganized sector: A formal menstrual leave policy in the organized sector can act as a catalyst in safeguarding menstruators in the unorganized sector too.
Conclusion
Menstrual health is a public health issue. Considering the sizable population of menstruators in India who face stigma, period leave cannot be dismissed anymore as a foreign concept. It is a pivotal step in ensuring proper reproductive health equity in India.
Mains question.
Q. The topic of Menstrual leave is in the headlines for some time now. Anaalyse the dabate
The judgments delivered by the Supreme Court will now be translated into four languages —Hindi, Tamil, Gujarati and Odia — Chief Justice of India (CJI) Dhananjaya Y Chandrachud informed.
We must understand that the language which we use namely English, is a language which is not comprehensible, particularly in its legal avatar, to 99.9% of our citizens, said CJI.
How Lord William Bentinck transformed judicial functioning in India?
· Bentinck was the governor-general of Bengal (1828–33) and of India (1833–35). · Under him, the four Circuit Courts were abolished and transferred the functions of the abolished court to the collectors under the supervision of the commissioner of revenue and circuit. · Sadar Diwani Adalat and Sadar Nizamat Adalat were established at Allahabad. · He made the Persian and a Vernacular language for the court proceeding in lower court and made English language as official language for Supreme Court proceeding. · During his reign, Law commission was set up by Macaulay which codified the Indian laws. On the basis of this commission, a civil Procedure Code of 1859, an Indian Penal Code of 1860, and a Criminal Procedure Code of 1861 were prepared.
CJI pitches for judgements in regional languages
Expert committee under Justice Abhay Oka: A committee has been formed, headed by SC Judge Abhay Oka, to translate the judgments into four languages. CJI also intends to appoint retired judicial officers, apart from translators, for verifying machine translation of the Supreme Court judgments.
State-wide translations: It has a mission that every high court across the country should will have a committee of two judges, one of whom should be a judge who is drawn from the district judiciary “because of their sheer width of experience”.
AI-based translation: CJI further said that they are also developing a software and setting up a team where machine learning for translation of the SC judgments will be used.
Why such move?
English barrier: The use of obsolete, archaic or old English words which have passed from the English language but have been kept alive by their frequent use in the Legal profession.
Excessive use of jargons: The use of Latin, and sometimes French, words, and phrases to express a rule, principle, doctrine, maximum, etc. which can be easily phrased in English
Legal language complexities: The practice of assigning common English words a new, different, unusual and purely legal meaning or assigning these words some exclusive legal definitions.
Attitude of legal professionals: The ridiculed tendency of legal professionals both lawyers and judges to write often long and complex sentences without any punctuation.
Why is English such prominent legal language in India?
Better than legacy language: The language used in Courts in India has seen a transition over centuries with the shift from Urdu to Persian and Farsi scripts during the Mughal period which continued in subordinate courts even during the British Rule.
Codified laws and legal system: The British introduced a codified system of law in India with English as the official language.
Creating cohesiveness: Just like cases from all over the country come to the Supreme Court, judges and lawyers of the Supreme Court also come from all parts of India.
Ease of legal education: Without the use of English, it would be impossible to discharge their duty. All judgments of the Supreme Court are also delivered in English.
Need for such reform
Creating awareness: The judgements should be converted into other regional languages so that the masses can benefit and the true meaning of legal education can be achieved.
Create law abiding citizens: Obscurity of law creates complexity. If law is comprehensible to the common man, it will have a positive impact.
Removing language barriers: Masses in India has always been uncomfortable with English language despites its popularity in education system.
Promoting multilingualism: Ever since the introduction of New Education Policy, the centre has been very active in promoting multilingualism across the country.
Various provisions for regional languages
India Constitution: Article 348(1) provides that all proceedings in the Supreme Court and in every High Court shall be in English language until Parliament by law otherwise provides. Article 348 (2) provides that the Governor of the State may, with the previous consent of the President, authorize the use of the Hindi language or any other language used for any official purpose of the State.
Official Language Act, 1963: The Act reiterates this and provides under Section 7 that the use of Hindi or official language of a State in addition to the English language may be authorized, with the consent of the President of India, by the Governor of the State for the purpose of judgments, decrees etc. made by the High Court for that State. No law has been made in this regard by the Parliament so far.
Law Commission of India: The 18th Law Commission Report on “Non-Feasibility of Introduction of Hindi as Compulsory Language in the Supreme Court of India” (2008) has, recommended that the higher judiciary should not be subjected to any kind of even persuasive change in the present societal context. The Government has accepted the stand of the Commission.
Demand from various States: The centre has received proposals from the Government of Tamil Nadu, Gujarat, Chhattisgarh, West Bengal and Karnataka to permit use of Tamil, Gujarati, Hindi, Bengali and Kannada in the proceedings of their respective High Courts. The use of Hindi has been authorized long back in the proceedings as well in the judgments, decrees or orders in the High Courts of the States of Rajasthan, MP, UP and Bihar.
How can this be achieved?
Encourage local languages: The need of the hour is to encourage local language in courts, which will not only increase the confidence of common citizens in the justice system, but they will feel more connected to it.
Executive-judiciary liaison: The confluence of the judiciary and legislature will prepare the roadmap for an effective and time-bound judicial system in the country.
Way forward
The language of law should be cleaned up so that any person of average intelligence can understand its meaning.
The legal language can be simplified by using the following steps.
It should be insisted that the laws written by the legislatures can be made understandable to average laymen as well as to the legal professional
These laws must be written in non-technical terms
Legislatures should use short sentences with adequate punctuation
Use of Latin and French phrases should be abandoned
Use of obsolete archaic English words should be abandoned and at last, the same meaning of words should be applied to those legal terms as the same meaning in common usage
Conclusion
It is true that language acts as a barrier in the spread of Legal education however language barrier coupled with professional barrier acts as the real challenge.
The Supreme Court has refused to set aside a provision in the election law that allows candidates to contest polls from two constituencies simultaneously.
What is the issue?
The petition had sought the court to declare Section 33(7) of the Representation of People Act invalid and ultra vires.
Like one-person-one-vote, one-candidate-one-constituency is the dictum of democracy, argued the petition.
What did the SC say?
This is a policy matter and an issue concerning political democracy.
It is for the Parliament to take a call, CJI observed.
Provision for contesting polls from two constituency
Under section 33 (7) of the RPA, 1951, a person is allowed to contest polls, whether a general election, more than one by-elections or biennial elections, from a maximum of two seats.
Before this law, candidates could run in any number of constituencies.
If candidates win both seats, they must vacate one within 10 days, triggering a by-election, as stated under section 70 of the Act.
Under the Constitution, an individual cannot simultaneously be a member of either House of Parliament (or a state legislature), or both Parliament and a state legislature, or represent more than one seat in a House.
Issues with two polls provision
Issues with twin victories: There have been cases where a person contests election from two constituencies, and wins from both. In such a situation he vacates the seat in one of the two constituencies.
Expenses of bye-election: The consequence is that a by-election would be required from one constituency involving avoidable expenditure on the conduct of that bye-election.
ECI supports one-candidate-one-constituency
The Election Commission had, in an affidavit in 2018, supported the petition.
It had informed the Supreme Court that it had proposed an amendment to Section 33(7) in July 2004.
Way ahead
Heavy election deposits: A candidate should deposit an amount of ₹5 lakh for contesting in two constituencies in an Assembly election or ₹10 lakh in a general election.
Recurring election expenses: The amount would be used to cover the expenses for a by-election in the eventuality that he or she was victorious in both constituencies and had to relinquish one.
The National Stock Exchange (NSE) placed very famous enterprises of business tycoons under the additional surveillance mechanism (ASM).
Why in news?
The Adani Group has shed $108 billion in market value since Hindenburg Research accused it of stock manipulation and accounting fraud.
What is Additional Surveillance Mechanism (ASM)?
2018 saw the establishment of the Additional Surveillance Measure (ASM), a measure by SEBI and recognised stock exchanges to control the incredibly volatile stocks on the Indian stock market.
ASM in the stock market functions as a control measure for speculative trading to safeguard the interests of retail investors and keep them out of potentially dangerous trading situations.
There are two parts of additional margins:
Long-term ASM
Short-term ASM
What is ASM list in the stock market?
ASM list means a collection of securities currently under observation owing to variables like price volatility, volume variation, etc.
Investors are alerted to unexpected price movement by stocks that have been shortlisted for the ASM list.
These equities are subject to various trading restrictions to halt any speculation.
The regulations that apply to stocks on the ASM list are more stringent.
They are prohibited from being pledged and using intraday leverages like bracket and cover orders, among others.
How does it work?
For instance, the stock will be moved to a 5% price band the day it joins the ASM list; from then on, it may only move 5% up or down from the previous day’s closing level.
As a result of this limit violation, the stock can no longer trade on the market once this limit is violated.
In addition, the investor ought to have 100% margin money to trade the stock as of the fifth day.
The selected securities will be monitored further, based on predetermined criteria and transferred into Trade to Trade settlement once the criterion is met.
Criteria to determine ASM list stocks
The following criteria are used to select stocks for inclusion in ASM and were mutually decided upon by SEBI and Exchanges:
The CITES trade database has recorded 28 incidents of Red Sanders confiscation, seizure, and specimen from the wild being exported from India.
Red Sanders
The species, Pterocarpus santalinus, is an Indian endemic tree species, with a restricted geographical range in the Eastern Ghats.
It is a very slow-growing tree species that attains maturity in natural forests after 25-40 years.
It is endemic to a distinct tract of forests in Andhra Pradesh.
It is mainly found in Chittoor, Kadapa, Nandhyal, Nellore, Prakasam districts of Andhra Pradesh.
It was classified as ‘near threatened’ in 2018 and has now joined the ‘endangered’ list once again in 2021.
It is listed under Appendix II of CITES and is banned from international trade.
Legal protection in India
The Union Environment Ministry had decided to keep Red Sanders (red sandalwood) OUT of the Schedule VI of Wild Life Protection Act, 1972, arguing that this would discourage the cultivation of the rare plant species.
Schedule VI regulates and restricts the cultivation, possession, and sale of a rare plant species.
Threats to this specie
Red Sanders are known for their rich hue and therapeutic properties, are high in demand across Asia, particularly in China and Japan.
They are used in cosmetics and medicinal products as well as for making furniture, woodcraft and musical instruments.
Its popularity can be gauged from the fact that a tonne of Red Sanders costs anything between Rs 50 lakh to Rs 1 crore in the international market.
Try this question from CSP 2016:
Q.With reference to ‘Red Sanders’, sometimes seen in the news, consider the following statements:
It is a tree species found in a part of South India.
It is one of the most important trees in the tropical rain forest areas of South India.
Which of the above statements is/are correct?
(a) 1 only
(b) 2 only
(c) Both 1 and 2
(d) Neither 1 nor 2
Post your answers here.
Back2Basics: Convention on International Trade in Endangered Species (CITES)
CITES stands for the Convention on International Trade in Endangered Species of Wild Fauna and Flora.
It is as an international agreement aimed at ensuring “that international trade in specimens of wild animals and plants does not threaten their survival”.
It was drafted after a resolution was adopted at a meeting of the members of the International Union for Conservation of Nature (IUCN) in 1963.
It entered into force on July 1, 1975, and now has 183 parties.
The Convention is legally binding on the Parties in the sense that they are committed to implementing it; however, it does not take the place of national laws.
India is a signatory to and has also ratified CITES convention in 1976.
CITES Appendices
CITES works by subjecting international trade in specimens of selected species to certain controls.
All import, export, re-exports and introduction from the sea of species covered by the convention has to be authorized through a licensing system.
It has three appendices:
Appendix I includes species threatened with extinction. Trade-in specimens of these species are permitted only in exceptional circumstances.
Appendix II provides a lower level of protection.
Appendix III contains species that are protected in at least one country, which has asked other CITES Parties for assistance in controlling trade.
During her Budget speech, Finance Minister announced the government’s move to focus on lab-grown diamonds (LGDs).
What did the FM announce?
Customs duty on the seeds used in lab-grown diamond manufacturing will be reduced, announced the finance minister.
She also announced a grant to IITs to facilitate the growth of LGDs in India.
What are Lab-Grown Diamonds (LGD)?
Lab-grown diamonds are diamonds that are produced using specific technology which mimics the geological processes that grow natural diamonds.
They are not the same as “diamond simulants” – LGDs are chemically, physically and optically diamond and thus are difficult to identify as “lab-grown.”
While materials such as Moissanite, Cubic Zirconia (CZ), White Sapphire, YAG, etc. are “diamond simulants” that simply attempt to “look” like a diamond.
LGDs have basic properties similar to natural diamonds, including their optical dispersion, which provide them the signature diamond sheen.
They lack the sparkle and durability of a diamond and are thus easily identifiable.
However, differentiating between an LGD and an Earth Mined Diamond is hard, with advanced equipment required for the purpose.
How are LGDs produced?
There are multiple ways in which LGDs can be produced.
High pressure, high temperature (HPHT) method: This method requires extremely high pressure, high temperature presses that can produce up to 730,000 psi of pressure under extremely high temperatures (at least 1500 Celsius). Usually graphite is used as the “diamond seed” and when subjected to these extreme conditions, the relatively inexpensive form of carbon turns into one of the most expensive carbon forms.
Other processes: These include “Chemical Vapor Deposition” (CVD) and explosive formation that creates what are known as “detonation nano-diamonds”.
What are LGDs used for?
(1) Production
For instance, LGDs are most often used for industrial purposes, in machines and tools. Their hardness and extra strength make them ideal for use as cutters.
Furthermore, pure synthetic diamonds have high thermal conductivity, but negligible electrical conductivity.
(2) Electronics industry
This combination is invaluable for electronics where such diamonds can be used as a heat spreader for high-power laser diodes, laser arrays and high-power transistors.
(3) Jewelleries
Lastly, as the Earth’s reserves of natural diamonds are depleted, LGDs are slowly replacing the prized gemstone in the jewellery industry.
Crucially, like natural diamonds, LGDs undergo similar processes of polishing and cutting that are required to provide diamonds their characteristic lustre.
The talks between India’s National Security Advisor Ajit Doval and his American counterpart Jake Sullivan in Washington this week have concluded with the announcement of a new road map for deeper military and techno-economic cooperation between the two countries that is iCET.
The idea was first mooted in the meeting between Prime Minister Narendra Modi and President Joe Biden on the margins of the Tokyo summit of the Quadrilateral Security Dialogue (Quad) last May.
Early advances in India’s nuclear and space programs: High technology cooperation has long been a major focus of US-India relations. Early advances in India’s nuclear and space programmes in the 1950s and 1960s involved significant inputs from the US.
US nuclear sanctions and reduced cooperation: But the US nuclear sanctions from the 1970s steadily whittled down the extent of bilateral high-tech cooperation.
Civil nuclear initiative renewed cooperation: The historic civil nuclear initiative of 2005 opened the door for renewed technological cooperation.
Political ambivalence bureaucratic inertia prevented best use: But residual restrictions on technology transfer in Washington and Delhi’s political ambivalence and bureaucratic inertia prevented the best use of the new possibilities.
The iCET process and new possibilities ahead: The iCET process, which will be monitored and driven from the PMO in Delhi and the White House in Washington, will hopefully bring greater coherence to this round of India-US technological engagement.
What is Initiative on Critical and Emerging Technologies (iCET)?
Cooperation in emerging technology: The iCET is a partnership between India and the US to work together in developing important and new technologies.
Areas of collaboration for instance: The iCET involves collaboration in a range of areas including quantum computing, semiconductors, 5G and 6G wireless infrastructure, and civilian space projects such as lunar exploration.
Adding depth and breadth to already growing partnership: The iCET’s goal is to increase the technology interaction between the US and India while also potentially adding additional strategic depth and breadth to their growing partnership.
Directly monitored by PMO and White house: The Prime Minister’s Office in Delhi and the White House in Washington will oversee and direct the iCET.
Significance of iCET for India
The importance of iCET in the context of assertive China: Lending urgency to the iCET is the growing convergence of Indian and US interests in managing the security, economic, and technological challenges presented by a rising and assertive China.
India’s alternative for dependence on Russian military technology: India is also looking to reduce its over dependence on Russian weapons and military technology and to produce more weapons at home in partnership with western countries.
Boost to India’s technological capabilities: The iCET would provide India with access to cutting-edge technology and expertise in areas that are critical and emerging in nature.
Economic growth: Working together on new and important technologies can lead to more business between India and the US, which can help the economy grow as it will bring more investment and employment opportunities.
Other focus area: Cooperation in defence production
The two sides are also focused on cooperation in defence production.
While much of this cooperation will need to be fleshed out in the months ahead, Doval and Sullivan announced one concrete measure the making of a fighter jet engine in India.
GE Aerospace has applied for an export licence for jet engine production and phased transfer of technology to Indian entities. Washington promises to process this application expeditiously. This fits in nicely with Delhi’s plans to modernise its rusty defence industrial base.
Conclusion
If implemented with speed and purpose, the bilateral Initiative on Critical and Emerging Technologies (iCET) could lend a new strategic depth and breadth to the expanding engagement between India and the United States.
Mains question
Q. What is Initiative on Critical and Emerging Technologies (iCET)? Discuss the Importance of iCET especially for India.
The Union Finance Minister has presented the Union Budget 2023-24 in Parliament today. The highlights of the Budget are as follows:
Major achievements discussed
Per capita income: PCI has more than doubled to ₹1.97 lakh in around nine years.
5th largest economy tag: Indian economy has increased in size from being 10th to 5th largest in the world in the past nine years.
Formalized employment: EPFO membership has more than doubled to 27 crore.
Direct Benefit Transfer: Cash transfer of ₹2.2 lakh crore to over 11.4 crore farmers under PM Kisan Samman Nidhi.
Digital transactions: 7,400 crore digital payments of ₹126 lakh crore has taken place through UPI in 2022.
Household toilets: 11.7 crore toilets constructed under Swachh Bharat Mission.
Insurance cover: For 44.6 crore persons under PM Suraksha Bima and PM Jeevan Jyoti Yojana.
Others: 9.6 crore LPG connections provided under Ujjwala; 220 crore covid vaccination of 102 crore persons; 47.8 crore PM Jan Dhan bank accounts.
Part A: Major Announcements
(1) Seven priorities of the budget ‘Saptarishi’
These include inclusive development, reaching the last mile, infrastructure and investment, unleashing the potential, green growth, youth power and financial sector.
(2) Welfare
Housing for all: Outlay for PM Awas Yojana is being enhanced by 66% to over Rs. 79,000 crore.
Silver Economy: The maximum deposit limit for Senior Citizen Savings Scheme to be enhanced from Rs 15 lakh to Rs 30 lakh.
Mahila Samman Savings Certificate: To commemorate Azadi Ka Amrit Mahotsav, a one-time new small savings scheme, Mahila Samman Savings Certificate to be launched. It will offer deposit facility upto Rs 2 lakh in the name of women or girls for tenure of 2 years (up to March 2025) at fixed interest rate of 7.5 per cent with partial withdrawal option.
(3) Industrial sector boost
Entity DigiLocker: Entity DigiLocker will be setup for use by MSMEs, large business and charitable trusts to store and share documents online securely.
PAN as business identifier: FM has said the Permanent Account Number (PAN) will be made as a single business identifier for all digital systems of all specified departments of the government.
Credit facilitation for MSMEs: Revamped credit guarantee scheme for MSMEs to take effect from 1st April 2023 through infusion of Rs 9,000 crore in the corpus. This scheme would enable additional collateral-free guaranteed credit of Rs 2 lakh crore and also reduce the cost of the credit by about 1 per cent.
Central Processing Centre: This is to be setup for faster response to companies through centralized handling of various forms filed with field offices under the Companies Act.
Diamond Industry: R & D grant for Lab Grown Diamonds (LGD) sector to encourage indigenous production of LGD seeds and machines and to reduce import dependency.
Unity Mall: States to be encouraged to set up a Unity Mall for promotion and sale of their own and also all others states’ ODOPs (One District, One Product), GI products and handicrafts.
(4) Infrastructure push
New Infrastructure Finance Secretariat: It will be established to enhance opportunities for private investment in infrastructure.
Massive outlays: Investment of Rs. 75,000 crore, including Rs. 15,000 crore from private sources, for one hundred critical transport infrastructure projects, for last and first mile connectivity for ports, coal, steel, fertilizer, and food grains sectors.
Highest ever outlay for Railways: Capital outlay of Rs. 2.40 lakh crore has been provided for the Railways, which is the highest ever outlay and about nine times the outlay made in 2013-14.
Urban Infrastructure Development Fund (UIDF): It will be established through use of priority Sector Lending shortfall, which will be managed by the national Housing Bank, and will be used by public agencies to create urban infrastructure in Tier 2 and Tier 3 cities.
(5) Agricultural boost
Agriculture Accelerator Fund: It will be set-up to encourage agri-startups by young entrepreneurs in rural areas.
Millet boost: To make India a global hub for ‘Shree Anna’, the Indian Institute of Millet Research, Hyderabad will be supported as the Centre of Excellence for sharing best practices, research and technologies at the international level.
PRANAM Scheme: “PM Programme for Restoration, Awareness, Nourishment and Amelioration of Mother Earth” (PM-PRANAM) to be launched to incentivize States and Union Territories to promote alternative fertilizers and balanced use of chemical fertilizers.
Animal husbandry: ₹20 lakh crore agricultural credit targeted at animal husbandry, dairy and fisheries A new sub-scheme of PM Matsya Sampada Yojana with targeted investment of ₹6,000 crore to be launched to further enable activities of fishermen, fish vendors, and micro & small enterprises, improve value chain efficiencies, and expand the market.
Digital public infrastructure for agriculture: It will be built as an open source, open standard and inter operable public good to enable inclusive farmer centric solutions and support for growth of agri-tech industry and start-ups.
APMC Storage: Massive decentralised storage capacity to be set up to help farmers store their produce and realize remunerative prices through sale at appropriate times.
Atmanirbhar Clean Plant Program: This has been given an outlay of ₹2200 crore to be launched to boost availability of disease-free, quality planting material for high value horticultural crops.
Bio-Input Resource Centres: Centre to facilitate one crore farmers to adopt natural farming over the next three years. For this, 10,000 Bio-Input Resource Centres to be set-up, creating a national-level distributed micro-fertilizer and pesticide manufacturing network.
(6) Health sector boost
Sickle Cell Anaemia Elimination Mission: FM announced a mission to eliminate sickle cell anemia by 2047, which will include universal screening of seven crore persons between the ages of 0 and 40 years in affected tribal areas.
Medical research: Joint public and Private Medical research to be encouraged via select ICMR labs for encouraging collaborative research and innovation. New Programme to promote research in Pharmaceuticals to be launched.
More nursing colleges: 157 new nursing colleges to be established in co-location with the existing 157 medical colleges established since 2014.
(7) Rural Development
Aspirational Blocks Programme covering 500 blocks: Launched for saturation of essential government services across multiple domains such as health, nutrition, education, agriculture, water resources, financial inclusion, skill development, and basic infrastructure.
PVTG Development mission: FM announced the launch of a national mission for vulnerable tribes with an outlay of Rs 15,000 crore. The mission aims to provide support to India’s vulnerable tribes in areas of health, clean water and sanitation, basic infrastructure, and sustainable livelihood opportunities, among others.
(8) Higher Education
District Institutes of Education and Training to be developed as vibrant institutes of excellence for Teachers’ Training.
National Digital Library for Children and Adolescents to be set-up for facilitating availability of quality books across geographies, languages, genres and levels, and device agnostic accessibility.
‘Bharat Shared Repository of Inscriptions’ to be set up in a digital epigraphy museum, with digitization of one lakh ancient inscriptions in the first stage.
(9) Finance Sector
‘Effective Capital Expenditure’ of Centre: Rs. 13.7 lakh crore
Continuation of 50-year interest free loan: Such loans for state governments for one more year to spur investment in infrastructure and to incentivize them for complementary policy actions.
National Financial Information Registry: To be set up to serve as the central repository of financial and ancillary information for facilitating efficient flow of credit, promoting financial inclusion, and fostering financial stability. A new legislative framework to be designed in consultation with RBI to govern this credit public infrastructure.
(10) Urban development
Sustainable cities of tomorrow: Encouragement to states and cities to undertake urban planning reforms and actions to transform our cities into ‘sustainable cities of tomorrow’.
Mechanized sanitation work: Transition from manhole to machine-hole mode by enabling all cities and towns to undertake 100 percent mechanical desludging of septic tanks and sewers.
(11) Skill development
iGOT Karmayogi: An integrated online training platform, launched to provide continuous learning opportunities for lakhs of government employees to upgrade their skills and facilitate people-centric approach.
Unified Skill India Digital platform: To be launched for enabling demand-based formal skilling, linking with employers including MSMEs, and facilitating access to entrepreneurship schemes.
National Apprenticeship Promotion Scheme: Direct Benefit Transfer under a pan-India National Apprenticeship Promotion Scheme to be rolled out to provide stipend support to 47 lakh youth in three years.
Tribal education: Centre to recruit 38,800 teachers and support staff for the 740 Eklavya Model Residential Schools, serving 3.5 lakh tribal students over the next three years.
Pradhan Mantri Kaushal Vikas Yojana 4.0: It will be launched to skill lakhs of youth within the next three years covering new age courses for Industry 4.0 like coding, AI, robotics, mechatronics, IOT, 3D printing, drones, and soft skills. 30 Skill India International Centres to be set up across different States to skill youth for international opportunities.
(12) Ease of Doing Business
Jan Vishwas Bill: To amend 42 Central Acts have been introduced to further trust-based governance.
Decriminalization of certain compliances: More than 39,000 compliances reduced and more than 3,400 legal provisions decriminalized to enhance Ease of Doing Business.
(13) IT push
National Data Governance Policy: To be brought out to unleash innovation and research by start-ups and academia.
AI push: Three centres of excellence for Artificial Intelligence to be set-up in top educational institutions to realise the vision of “Make AI in India and Make AI work for India”.
5G rollout: 100 labs to be setup for 5G services based application development to realize a new range of opportunities, business models, and employment potential.
Infra push for E-Courts: Phase-3 of the E-Courts project to be launched with an outlay of Rs. 7,000 crore for efficient administration of justice.
(14) Energy
Mandatory Compress Biogas blend of 5%: 5 per cent compressed biogas mandate to be introduced for all organizations marketing natural and bio gas.
Green hydrogen: Annual production of 5 MMT under Green Hydrogen Mission to be targeted by 2030 to facilitate transition of the economy to low carbon intensity and to reduce dependence on fossil fuel imports.
Battery storage: The government will support setting up of battery storage capacity of 4,000 MWH in India with viability gap funding.
RE pus in Ladakh: 20,700 crore outlay provided for renewable energy grid integration and evacuation from Ladakh.
(15) Climate change mitigation
GOBARdhan Boost: 500 new ‘waste to wealth’ plants under GOBARdhan (Galvanizing Organic Bio-Agro Resources Dhan) scheme to be established for promoting circular economy at total investment of Rs 10,000 crore.
‘Mangrove Initiative for Shoreline Habitats & Tangible Incomes’, MISHTI: To be taken up for mangrove plantation along the coastline and on salt pan lands, through convergence between MGNREGS, CAMPA Fund and other sources.
Green Credit Programme to be notified under the Environment (Protection) Act to incentivize and mobilize additional resources for environmentally sustainable and responsive actions.
Amrit Dharohar scheme to be implemented over the next three years to encourage optimal use of wetlands, enhance bio-diversity, carbon stock, eco-tourism opportunities and income generation for local communities.
Net zero commitments: ₹35000 crore outlay for energy security, energy transition and net zero objectives.
Green credit programme: FM also says a green credit programme will be notified under the Environment Protection Act.
(16) Tourism Boost
Model destinations: At least 50 destinations will be selected through challenge mode — physical, virtual connectivity, tourism security, guides, would be made available on an app to enhance tourist experience.
Sector specific skilling and entrepreneurship development: To be dovetailed to achieve the objectives of the ‘Dekho Apna Desh’ initiative.
Vibrant Villages Programme: Border tourism infrastructure and amenities to be facilitated in border villages.
(17) Others
ISFC reforms: To enhance business activities in GIFT IFSC, the following measures to be taken-
Delegating powers under the SEZ Act to IFSCA to avoid dual regulation.
Setting up a single window IT system for registration and approval from IFSCA, SEZ authorities, GSTN, RBI, SEBI and IRDAI.
Permitting acquisition financing by IFSC Banking Units of foreign bank.
Establishing a subsidiary of EXIM Bank for trade re-financing.
Amending IFSCA Act for statutory provisions for arbitration, ancillary services, and avoiding dual regulation under SEZ Act
Recognizing offshore derivative instruments as valid contracts.
Part B: Estimates
Revised Estimates 2022-23
The total receipts other than borrowings is Rs 24.3 lakh crore, of which the net tax receipts are Rs 20.9 lakh crore.
The total expenditure is Rs 41.9 lakh crore, of which the capital expenditure is about Rs 7.3 lakh crore.
The fiscal deficit is 6.4 per cent of GDP, adhering to the Budget Estimate.
Budget Estimates 2023-24
The total receipts other than borrowings is estimated at Rs 27.2 lakh crore and the total expenditure is estimated at Rs 45 lakh crore.
The net tax receipts are estimated at Rs 23.3 lakh crore.
The fiscal deficit is estimated to be 5.9 per cent of GDP.
To finance the fiscal deficit in 2023-24, the net market borrowings from dated securities are estimated at Rs 11.8 lakh crore.
The gross market borrowings are estimated at Rs 15.4 lakh crore.
Part C: Direct Taxes
Increased Rebate limit of Personal Income Tax: To be increased to Rs. 7 lakh from the current Rs. 5 lakh in the new tax regime. Thus, persons in the new tax regime, with income up to Rs. 7 lakh to not pay any tax.
Tax slabs: Tax structure in new personal income tax regime, introduced in 2020 with six income slabs, to change by reducing the number of slabs to five and increasing the tax exemption limit to Rs. 3 lakh.
New Tax Regime (current)
Tax Rates under the 2020 regime
Rs 0 to Rs 3 lakh – Exempt Rs 3 to 6 lakh – 5% Rs 6 to 9 lakh – 10% Rs 9 to 12 lakh – 15% Rs 12 to 15 lakh – 20% Above Rs 15 lakhs – 30%
Income till Rs 2.5 lakh – Exempt Rs 2.5 to Rs 5 lakh – 5% Rs 5 lakh to Rs 7.5 lakh – 15% Rs 7.5 lakh to Rs 10 lakh – 20% Above Rs 10 lakh – 30%
Agniveer Fund to be provided EEE status: The payment received from the Agniveer Corpus Fund by the Agniveers enrolled in Agnipath Scheme, 2022 proposed to be exempt from taxes. Deduction in the computation of total income is proposed to be allowed to the Agniveer on the contribution made by him or the Central Government to his Seva Nidhi account.
Part D: Direct Taxes
EV push: Customs Duty on specified capital goods/machinery for manufacture of lithium-ion cell for use in battery of electrically operated vehicle (EVs) extended to 31.03.2024
Electronics manufacturing push
Customs duty on camera lens and its inputs/parts for use in manufacture of camera module of cellular mobile phone reduced to zero and concessional duty on lithium-ion cells for batteries extended for another year.
Basic customs duty reduced on parts of open cells of TV panels to 2.5 per cent.
Basic customs duty on electric kitchen chimney increased to 15 per cent from 7.5 per cent.
Basic customs duty on heat coil for manufacture of electric kitchen chimneys reduced to 15 per cent from 20 per cent.
Legislative Changes in Customs Laws
Customs Act, 1962: To be amended to specify a time limit of nine months from date of filing application for passing final order by Settlement Commission.
Customs Tariff Act: To be amended to clarify the intent and scope of provisions relating to Anti-Dumping Duty (ADD), Countervailing Duty (CVD), and Safeguard Measures.
CGST Act to be amended
to raise the minimum threshold of tax amount for launching prosecution under GST from one crore to two crore;
to reduce the compounding amount from the present range of 50 to 150 per cent of tax amount to the range of 25 to 100 per cent;
decriminalise certain offences;
to restrict filing of returns/statements to a maximum period of three years from the due date of filing of the relevant return/statement; and
to enable unregistered suppliers and composition taxpayers to make intra-state supply of goods through E-Commerce Operators (ECOs).
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